On January 1, 2014, LOR leased a machine (original cost $60,000) to LES for a 5-year period at an implicit interest rate of 15 percent.The lease qualified as a direct financing lease and the annual lease payments ($17,306) are made each December 31.LOR retained the $4,000 estimated unguaranteed residual value , LOR's net receivable and LES's liability would be (round to the nearest dollar) : 
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Policies, rules, or guidelines adopted within an organization or institution to govern its operations and conduct.
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A government body empowered to implement particular legislation, manage public policy, and regulate certain activities within its jurisdiction.
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A cabinet department of the U.S. government charged with protecting the United States from terrorist attacks and responding to natural disasters.
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